American International Group Inc. Sells 840 Shares of PTC Therapeutics, Inc. (NASDAQ:PTCT)

American International Group Inc. lowered its holdings in shares of PTC Therapeutics, Inc. (NASDAQ:PTCT) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 36,954 shares of the biopharmaceutical company’s stock after selling 840 shares during the period. American International Group Inc. owned about 0.05% of PTC Therapeutics worth $1,728,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in PTC Therapeutics by 1.7% in the 2nd quarter. Vanguard Group Inc. now owns 5,672,336 shares of the biopharmaceutical company’s stock worth $287,815,000 after acquiring an additional 93,165 shares during the last quarter. RTW Investments LP grew its holdings in PTC Therapeutics by 0.8% in the 2nd quarter. RTW Investments LP now owns 3,963,120 shares of the biopharmaceutical company’s stock worth $201,089,000 after acquiring an additional 30,374 shares during the last quarter. TimesSquare Capital Management LLC grew its holdings in PTC Therapeutics by 7.3% in the 2nd quarter. TimesSquare Capital Management LLC now owns 995,695 shares of the biopharmaceutical company’s stock worth $50,522,000 after acquiring an additional 67,320 shares during the last quarter. Macquarie Group Ltd. grew its holdings in PTC Therapeutics by 16.5% in the 2nd quarter. Macquarie Group Ltd. now owns 933,938 shares of the biopharmaceutical company’s stock worth $47,388,000 after acquiring an additional 132,241 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in PTC Therapeutics by 114.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 744,378 shares of the biopharmaceutical company’s stock worth $37,770,000 after acquiring an additional 397,731 shares during the last quarter.

Shares of PTC Therapeutics stock opened at $63.13 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.91 and a current ratio of 3.00. The stock has a market capitalization of $4.31 billion, a PE ratio of -8.99 and a beta of 1.08. PTC Therapeutics, Inc. has a 52-week low of $30.79 and a 52-week high of $63.68. The company has a 50-day simple moving average of $54.71 and a two-hundred day simple moving average of $50.70.

PTC Therapeutics (NASDAQ:PTCT) last issued its earnings results on Thursday, October 29th. The biopharmaceutical company reported ($1.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.10) by $0.07. The business had revenue of $82.71 million during the quarter, compared to analysts’ expectations of $112.21 million. PTC Therapeutics had a negative net margin of 138.67% and a negative return on equity of 67.92%. The business’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.06) earnings per share. As a group, equities research analysts forecast that PTC Therapeutics, Inc. will post -6.42 EPS for the current fiscal year.

In other news, CEO Stuart Walter Peltz sold 124,351 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $50.12, for a total transaction of $6,232,472.12. Following the completion of the transaction, the chief executive officer now directly owns 56,985 shares of the company’s stock, valued at $2,856,088.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Christine Marie Utter sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $50.08, for a total transaction of $125,200.00. Following the transaction, the chief accounting officer now directly owns 10,349 shares of the company’s stock, valued at $518,277.92. The disclosure for this sale can be found here. Insiders sold 269,168 shares of company stock valued at $14,516,369 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

A number of equities research analysts have issued reports on PTCT shares. Raymond James reissued a “buy” rating on shares of PTC Therapeutics in a report on Wednesday, September 23rd. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lowered shares of PTC Therapeutics from a “buy” rating to a “neutral” rating in a research note on Friday, October 30th. Zacks Investment Research lowered shares of PTC Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, September 19th. Credit Suisse Group cut their target price on shares of PTC Therapeutics from $53.00 to $52.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. raised shares of PTC Therapeutics from a “neutral” rating to an “overweight” rating and set a $71.00 target price on the stock in a research note on Wednesday, October 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $60.45.

About PTC Therapeutics

PTC Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of medicines for the treatment of rare disorders. The company offers Translarna (ataluren) and Emflaza (deflazacort) for the treatment of nonsense mutation Duchenne muscular dystrophy in ambulatory patients.

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Institutional Ownership by Quarter for PTC Therapeutics (NASDAQ:PTCT)

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